Doctor Phillips Bankruptcy Attorney
Juan Burgos, Esq.
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Doctor Phillips FL Bankruptcy Attorney | Expert Help & Fresh Start with Juan Burgos
Feeling overwhelmed by debt in Doctor Phillips, FL? You’re not alone. Many people struggle financially, but bankruptcy laws offer a path to a fresh start. As your dedicated Doctor Phillips bankruptcy attorney, Juan Burgos is here to guide you through the process and help you regain control of your life.
Understanding Your Bankruptcy Options: Chapter 7 vs. Chapter 13
Before we dive into how Juan Burgos can help, let’s explore the two main types of personal bankruptcy:
The Fresh Start Option: Chapter 7 Bankruptcy
Also known as liquidation bankruptcy, Chapter 7 aims to wipe out most, if not all, of your debts. In exchange, you must surrender nonexempt property (if any) to be sold by a trustee. However, Florida law allows you to protect much of your property using exemptions.
“In Florida, debtors can choose between state and federal exemptions,” says Juan Burgos. “I’ll help you determine which set maximizes your asset protection.”
The Repayment Plan Option: Chapter 13 Bankruptcy
Chapter 13 involves creating a repayment plan to pay back some or all of your debts over three to five years. This option is ideal for those who want to keep their property but need more time to catch up on past-due payments, such as mortgage arrears.
“Chapter 13 can also help you eliminate a second mortgage or strip off unsecured liens,” adds Burgos. “It’s a powerful tool for homeowners looking to protect their most valuable asset.”
Florida Bankruptcy Laws: What You Need to Know
Before filing, it’s crucial to understand Florida’s bankruptcy laws and procedures:
- Means Test: To qualify for Chapter 7, you must pass the means test, which compares your income to the median income of Florida residents. If your income is too high, you may be forced into Chapter 13.
- Credit Counseling and Debtor Education: Before filing, you must complete a credit counseling course from an approved agency. Afterward, you’ll need to take a debtor education course to receive a discharge.
- Automatic Stay: Upon filing for bankruptcy, an automatic stay goes into effect, stopping creditors from collecting debts, foreclosing on your home, or garnishing your wages.
The Benefits of Filing for Bankruptcy in Doctor Phillips, FL
Here are some key benefits to consider when deciding whether to file for bankruptcy:
- Eliminate or Reduce Debts: Depending on the chapter you choose, many debts can be wiped out entirely or reduced significantly.
- Protect Your Property: By using Florida’s exemptions, you can protect much of your property from being sold to pay off creditors.
- Stop Collection Actions: The automatic stay provides immediate relief from creditor harassment and collection actions.
- Keep Your Home or Car: In many cases, filing for bankruptcy can help you keep your home or car by allowing you to catch up on past-due payments or modify loan terms.
Why Choose Juan Burgos for Your Bankruptcy Case?
When facing financial difficulties, it’s essential to choose an attorney who understands your situation and has the expertise to guide you through the complexities of bankruptcy law. Here’s why Juan Burgos is the right choice:
- Experience: With years of experience dedicated solely to bankruptcy law, Juan Burgos has helped countless clients in Doctor Phillips and throughout Florida find debt relief.
- Expertise: Burgos stays up-to-date with the latest changes in bankruptcy laws and procedures, ensuring you receive tailored advice based on your unique situation.
- Client-Centered Approach: Burgos takes the time to listen to your concerns and tailor a bankruptcy plan that meets your specific needs. Your success is his top priority.
Take the First Step Towards a Fresh Start: Contact Juan Burgos Today
Don’t let financial struggles control your life any longer. Take the first step towards regaining control by scheduling a free consultation with Juan Burgos, your dedicated Doctor Phillips bankruptcy attorney.
Call us at (123) 456-7890 or fill out our online contact form to schedule your appointment today.
Personal Bankruptcy
Florida residents can seek personal bankruptcy to cancel their debts and get a second chance. Our team of specialized property law attorneys will guide you through the process and help you determine if bankruptcy is right for you.
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Business Bankruptcy
Business Bankruptcy In Florida, businesses can also file for business bankruptcy (Chapter 11) to reorganize their finances and pay part or all of their debt. Our team of specialized property law attorneys will guide you through the process and help you determine if bankruptcy is right for your business.
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Frequently Asked Questions (FAQs)
What's the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7, often called “liquidation” bankruptcy, aims to wipe out most of your debts by liquidating nonexempt property (if any). In contrast, Chapter 13 involves creating a repayment plan to pay back some or all of your debts over three to five years. While Chapter 7 is typically faster and allows you to keep more property, Chapter 13 may be necessary if you fail the means test or want to protect certain assets.
What is the "means test" and how does it affect my bankruptcy filing?
The “means test” is a calculation used to determine whether you qualify for Chapter 7 bankruptcy. It compares your income to the median income of Florida residents and considers your expenses and debts. If your income is below the median, you pass the means test and can file for Chapter 7. However, if your income is above the median, you may still qualify for Chapter 7 if you have remaining disposable income after subtracting allowed expenses from your income (11 U.S.C. § 707(b)).
Can I keep my property when filing for bankruptcy?
In many cases, yes! Florida law allows you to protect much of your property using exemptions. These exemptions can help you keep your home, car, and other valuable assets. An experienced bankruptcy attorney like Juan Burgos can help you navigate the exemption process and maximize your asset protection.
Bankruptcy can remain on your credit report for up to 10 years (Chapter 7) or 7 years (Chapter 13). However, this doesn’t mean you won’t be able to rebuild your credit during that time. Many people are able to obtain credit and make significant progress towards rebuilding their financial lives within a few years after filing for bankruptcy.
Can I file for bankruptcy if I'm self-employed?
Yes, you can still file for bankruptcy even if you’re self-employed. Both Chapter 7 and Chapter 13 bankruptcies are available to small business owners and sole proprietors. However, it’s important to understand that filing for bankruptcy may have specific implications for your business, such as the potential loss of certain licenses or permissions (11 U.S.C. § 323).
What happens to my co-signers after I file for bankruptcy?
When you file for bankruptcy, any debts that you owed and were discharged in the bankruptcy will no longer be your responsibility. However, this does not relieve your co-signers of their obligations on any jointly held debts. They may still be required to pay off those debts (11 U.S.C. § 524).
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How Bankruptcy Works in Florida
Regain Control of Your Finances with Ease
Results may vary depending on the specific circumstances of each case.
Step #1
Submit Your Case
With a free financial situation evaluation, we can start helping you regain control of your life.
Step #2
We Get Started
Our team begins to investigate and evaluate your financial situation.
Step #3
We Fight for Your Rights
Bankruptcy is a right in the United States. With our help, we present your case to the bankruptcy court.
Practice Areas
At our firm, we are dedicated to fighting for your rights and ensuring you receive fair compensation. Our areas of expertise include personal injury law, including auto accidents, motorcycle accidents, and trucking accidents, as well as personal and business bankruptcy cases.